(MENAFN- IANS) New Delhi, July 3 (IANS) The Global CEO Conclave 2024, organised by the Wheat Products Promotion Society (WPPS), continued to build on impactful discussions under the theme "WPPS Global CEO Conclave Wheat and Wheat Products Vision 2030: Trade Dynamics, Trends, and Technologies".
The event concluded with a synthesis of profound insights and strategic recommendations aimed at shaping the future of the global wheat industry.
The conclave provided a crucial platform for addressing the challenges facing the global wheat market, which is projected to reach $258.7 billion by 2027 amid issues such as climate change and fluctuating demand.
More than 50 speakers from India and abroad participated in focused business sessions and panel discussions, delving into critical aspects of the wheat industry.
Discussions centred around flour fortification, aimed at reducing micronutrient deficiencies in 30 per cent of the global population, as well as examining wheat economics amid market volatility.
India's pivotal role in enhancing global food security, as the world's second-largest wheat producer, was also prominently featured.
US-India agricultural collaboration for food security: Strengthening bilateral efforts
Clay M. Hamilton, Agricultural Minister-Counselor at the US Department of Agriculture/Foreign Agricultural Service, recently delivered a keynote presentation on "US-India Agricultural Collaboration for Food Security".
The session, held within the framework of international agricultural cooperation, highlighted strategic efforts between the US and India aimed at bolstering global food security through technological and partnership initiatives.
The presentation underscored the critical role of agricultural collaboration between two of the world's largest democracies, the US and India.
Both nations face significant challenges in meeting the food demands of their population amid increasing global population growth, changing dietary patterns, and environmental uncertainties.
By leveraging their respective strengths and fostering strategic partnerships, the US and India aim to enhance agricultural productivity, improve food distribution systems, and ensure sustainable food security solutions.
Ajay Goyal, Chairman of WPPS, emphasised the importance of the strategic recommendations discussed during the conclave: "Our industry is at a pivotal point where collaboration and innovation are more crucial than ever. By leveraging the insights and recommendations from this conclave, we can navigate the challenges ahead and build a sustainable and prosperous future for the global wheat sector."
Global implications and local actions
The theme of the conclave emphasised the critical role of sustainable agricultural practices in ensuring the long-term viability of the wheat industry.
As the industry faces the dual challenge of increasing production to meet rising demand while minimising environmental impact, the conclave highlighted the need for policy frameworks that support sustainable farming.
Recommendations included promoting the adoption of eco-friendly fertilisers, efficient water management systems, and precision agriculture technologies that enhance productivity while reducing the ecological footprint of wheat production.
Policymakers were urged to develop and implement regulations that encourage sustainable practices and provide incentives for farmers to adopt environmentally friendly technologies.
By aligning policy initiatives with sustainability goals, the wheat industry can significantly reduce its carbon footprint, conserve natural resources, and contribute to global efforts to combat climate change.
This approach not only ensures the sustainability of wheat farming but also enhances the resilience of the entire agricultural sector.
Strengthening international partnerships
In light of the theme focusing on trade dynamics and trends, the conclave placed significant emphasis on the importance of strengthening international partnerships.
The global wheat supply chain is characterised by its complexity and interdependence, with production, processing, and distribution spanning multiple countries.
The conclave's recommendations called for enhanced cooperation and coordination among nations to build resilient supply chains that can withstand disruptions caused by geopolitical tensions, economic fluctuations, and climate-related challenges.
By fostering international collaboration, the wheat industry can ensure a stable and reliable supply of wheat and wheat products, even in the face of global uncertainties.
This includes establishing trade agreements that facilitate the smooth flow of goods, sharing best practices, and investing in infrastructure that supports efficient logistics and distribution.
Strengthening these partnerships is crucial for maintaining the integrity and stability of the global wheat market, thereby securing food supplies for population worldwide.
The Global CEO Conclave 2024 provided a comprehensive roadmap for the future of the wheat industry, with recommendations that emphasise innovation, sustainability, and collaboration.
By embracing these recommendations, industry stakeholders can work together to ensure a prosperous future for the global wheat sector, one that benefits producers, consumers, and the environment alike.
As the wheat industry moves forward, the insights and recommendations from the conclave will serve as a guiding framework for achieving lasting growth and sustainability, in line with the vision for 2030.
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